NEW YORK, Feb. 19, 2021 /PRNewswire/ -- AIkido Pharma Inc.
(Nasdaq: AIKI) ("AIkido" or the "Company") today announced the
closing of its previously announced underwritten public
offering of 46,875,000 shares of its common stock at a price to the
public of $1.60 per share. As
previously announced, the Company has granted to the underwriter a
30-day option to purchase up to 7,031,250 additional shares of
common stock at the public offering price, less underwriting
discounts and commissions.
H.C. Wainwright & Co. acted as the sole book-running manager
for the offering.
The gross proceeds to the Company from the offering are
$75 million, before deducting
underwriting discounts and commissions and other offering expenses.
The Company intends to use the net proceeds from this offering for
working capital and general corporate purposes.
The offering was conducted pursuant to the registration
statement on Form S-3 (File No. 333-238172), as amended, previously
filed with and subsequently declared effective by the Securities
and Exchange Commission ("SEC") on June 18, 2020. The
offering was made only by means of a prospectus supplement and
accompanying base prospectus. A final prospectus supplement and
accompanying base prospectus relating to the offering were filed
with the SEC and are available for free on the SEC's website
located at http://www.sec.gov. and may also be obtained by
contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd
Floor, New York, NY 10022, by
telephone at (646) 975-6996, or by email to
placements@hcwco.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
Any offer, if at all, will be made only by means of the prospectus
supplement and accompanying base prospectus forming a part of the
effective registration statement.
About AIkido Pharma Inc.
AIkido Pharma Inc. was initially formed in 1967 and is a
biotechnology company with a diverse portfolio of small-molecule
anti-cancer therapeutics. The Company's platform consists of
patented technology from leading universities and researchers and
we are currently in the process of developing an innovative
therapeutic drug platform through strong partnerships with world
renowned educational institutions, including The University of
Texas at Austin and Wake
Forest University. Our diverse pipeline of therapeutics includes
therapies for pancreatic cancer, acute myeloid leukemia (AML) and
acute lymphoblastic leukemia (ALL). In addition, we are constantly
seeking to grow our pipeline to treat unmet medical needs in
oncology. The Company is also developing a broad-spectrum
antiviral platform that may potentially inhibit replication of
multiple viruses including Influenza virus, SARS-CoV (coronavirus),
MERS-CoV, Ebolavirus and Marburg virus.
Forward-Looking Statements
Certain statements in this press release constitute
"forward-looking statements" within the meaning of the federal
securities laws. Words such as "may," "might," "will," "should,"
"believe," "expect," "anticipate," "estimate," "continue,"
"predict," "forecast," "project," "plan," "intend" or similar
expressions, or statements regarding intent, belief, or current
expectations, are forward-looking statements. While the Company
believes these forward-looking statements are reasonable, undue
reliance should not be placed on any such forward-looking
statements, which are based on information available to us on the
date of this release. These forward-looking statements are based
upon current estimates and assumptions and are subject to various
risks and uncertainties, including without limitation those set
forth in the Company's filings with the SEC, not limited to Risk
Factors relating to its business contained therein. Thus, actual
results could be materially different. The Company expressly
disclaims any obligation to update or alter statements whether as a
result of new information, future events or otherwise, except as
required by law.
Contact:
Investor Relations:
Hayden IR
Brett Maas, Managing Partner
Phone: (646) 536-7331
Email: brett@haydenir.com
www.haydenir.com
AIkido Pharma Inc.:
Phone: 212-745-1373
Email: investorrelations@aikidopharma.com
www.aikidopharma.com
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SOURCE AIkido Pharma Inc.